NSE issues FAQ on Settlement of Running Account of Client’s Funds lying with Trading Member

Sep 24, 2022 | by TeamLease RegTech Legal Research Team

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Secretarial ComplianceThe National Stock Exchange (NSE) on September 23, 2022 has issued notification regarding FAQ on Settlement of Running Account of Client’s Funds lying with Trading Member (TM).

The following has been stated namely: -

• This has reference to the SEBI circular SEBI/HO/MIRSD/DOP/P/CIR/2022/101 dated July 27, 2022, and Exchange circular NSE/INSP/53115 dated July 27, 2022, on “Settlement of Running Account of Client’s Funds lying with Trading Member (TM)”.

• FAQs are attached in the Annexure-A which resolves queries such as:

1. When does a client account need to be settled?

2. What should be the periodicity for settlement of client funds?

3. If the client has not done any Exchange transaction in the last 30 calendar days but has an open position in derivatives segment, still the credit balance should be returned to client within next three working days?

4. What if the client has not done any Exchange transaction in the last 30 calendar days, but executes transaction within next three working days?

• Annexure – 1 which states “Indicative Format for Retention Statement” has been attached.

 

[Notification No. NSE/INSP/53820]

 


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